The Company's Board and Management, Under Chairman and CEO Seifi Ghasemi's Leadership, Have Delivered Over $44 Billion in Shareholder Value Creation1

Continues to Successfully Execute Two-Pillar Growth Strategy to Grow Core Industrial Gas Business While Capitalizing on First-Mover Advantage in Clean Hydrogen Market

Air Products' Board is Refreshed, Independent and Fit-For-Purpose – Mantle Ridge's Proposed Nominees Would Remove Significant and Relevant Experience and Expertise

Mantle Ridge's Proposed Executive Chairman Candidate Appears Alarmingly Unfit to Lead Air Products or any Public Company; Preferred CEO Candidate is Insufficiently Qualified

Details Years of Operational Underperformance, Capital Allocation Missteps, Poor Project Execution, and Succession Planning Failures

Explains How Air Products' Decade of Board-Led "Refreshment" Only Deepened Entrenchment and Further Eroded Governance Safeguards; Current Search for New Subordinate to Seifi Ghasemi is Perpetuation of Status Quo

Explains How Air Products Can Achieve Long-Term Potential Through Shareholder-Led Board Reconstitution and Bona Fide CEO Succession Plan

Offers Compelling Leadership "Dream Team" of Industrial Gas Experts Dennis Reilley and Eduardo Menezes

Urges Shareholders to Vote "FOR" ONLY Air Products' Nominees on the WHITE Proxy Card

LEHIGH VALLEY, Pa., Dec. 13, 2024 /PRNewswire/ -- Air Products (NYSE:APD) Board of Directors today issued a letter to shareholders containing important information for shareholders to consider in connection with its upcoming 2025 Annual Meeting of Shareholders (the "Annual Meeting"), which will be held at 8:30 a.m. U.S. Eastern Time on January 23, 2025. All Air Products shareholders of record as of the close of business on November 27, 2024 will be entitled to vote at the Annual Meeting. Shareholders should visit voteairproducts.com for additional information on voting.

Nominates Four Highly Qualified Director Nominees – Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley – to Air Products' Board of Directors

Mantle Ridge Believes CEO Seifi Ghasemi's Insistence on Pursuing Large-Scale, Speculative Non-Core Investments Has Unduly Increased Risk to Air Products' Shareholders and Destroyed Shareholder Value

Incumbent Directors Who Failed to Rein in Mr. Ghasemi Should Not be Entrusted to Select Air Products' Next Generation of Board and Management Leadership

NEW YORK, Dec. 5, 2024 /PRNewswire/ -- Mantle Ridge LP ("Mantle Ridge"), which together with its affiliates beneficially owns more than $1 billion of Air Products and Chemicals Inc. (NYSE: APD) ("Air Products" or the "Company") shares, today issued the following statement:

It was reported in the press today that:

"Air Products and Chemicals, Inc. experienced a 2.3% drop in its stock price in pre-open trading on Thursday. This decline came as a result of activist hedge fund Mantle Ridge LP withdrawing its earlier push for a board overhaul at the industrial gas company."

Files Definitive Proxy Statement and Issues Letter to Shareholders

Urges Shareholders to Vote "FOR" ONLY Air Products' Nominees on the WHITE Proxy Card

Launches voteairproducts.com for Additional Shareholder Information

LEHIGH VALLEY, Pa., Dec. 4, 2024 /PRNewswire/ -- Air Products (NYSE:APD) today announced that it has filed its definitive proxy statement and WHITE proxy card with the U.S. Securities and Exchange Commission ("SEC") in connection with its upcoming 2025 Annual Meeting of Shareholders (the "Annual Meeting"), which will be held at 8:30 a.m. U.S. Eastern Time on January 23, 2025. All Air Products shareholders of record as of the close of business on November 27, 2024 will be entitled to vote at the Annual Meeting. Shareholders should visit voteairproducts.com for additional information on voting.

LEHIGH VALLEY, Pa., Nov. 26, 2024 /PRNewswire/ -- Air Products (NYSE: APD) announced today that Chairman, President and CEO Seifi Ghasemi will speak at the Goldman Sachs Industrials & Materials Conference at 10:00 a.m. ET on Thursday, December 5, 2024.

Access to the session is available via Air Products' Investor Relations Event Details website.

About Air Products

Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets and generating a cleaner future. The Company supplies essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, medical and food. As the leading global supplier of hydrogen, Air Products also develops, engineers, builds, owns and operates some of the world's largest clean hydrogen projects, supporting the transition to low- and zero-carbon energy in the industrial and heavy-duty transportation sectors. Through its sale of equipment businesses, the Company also provides turbomachinery, membrane systems and cryogenic containers globally.

LEHIGH VALLEY, Pa., Nov. 21, 2024 /PRNewswire/ -- The Board of Directors of Air Products (NYSE:APD) today declared a quarterly dividend of $1.77 per share of common stock. The dividend is payable on February 10, 2025 to shareholders of record at the close of business on January 2, 2025.

About Air Products

Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets and generating a cleaner future. The Company supplies essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, medical and food. As the leading global supplier of hydrogen, Air Products also develops, engineers, builds, owns and operates some of the world's largest clean hydrogen projects, supporting the transition to low- and zero-carbon energy in the industrial and heavy-duty transportation sectors. Through its sale of equipment businesses, the Company also provides turbomachinery, membrane systems and cryogenic containers globally.

LEHIGH VALLEY, Pa., Nov. 19, 2024 /PRNewswire/ -- Air Products (NYSE:APD) today issued the following statement regarding the nomination of director candidates by Mantle Ridge for election to the Air Products Board of Directors at the Company's 2025 Annual Meeting:

Air Products' Board of Directors has received Mantle Ridge's nomination notice and director nominees. The Board will present its formal recommendation regarding director nominees in the Company's proxy materials to be filed with the Securities and Exchange Commission in due course. Air Products shareholders are not required to take any action at this time.

Bob Patel and Alfred Stern, seasoned executives with experience leading major publicly listed industrial companies, to stand for election at Air Products' 2025 Annual Meeting of ShareholdersPatel, former Chief Executive Officer (CEO) of W.R. Grace and LyondellBasell and former President of Standard Industries, brings 35 years of global chemicals and materials industry experience in senior manufacturing, commercial, and management roles, and on public company boards, with extensive experience leading large-scale, global company transformationsStern, CEO and Executive Board Chairman of the OMV Group, Supervisory Board Chairman of OMV Petrom, and former CEO of Borealis, has 29 years of proven experience in leading and transforming global energy and chemicals companies and leading international multi-billion-dollar projects